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Fitch: Ventas unchanged
Fitch Ratings said news that Ventas, Inc. has entered into a definitive agreement to acquire 100% of Lillibridge Healthcare Services, Inc. and real estate interests in 95 medical office buildings and ambulatory facilities will not result in credit rating changes for Ventas. The issuer default rating for Ventas and its subsidiaries, Ventas Realty, Ltd. Partnership and Ventas Capital Corp., is BBB.
The outlook is stable.
The transaction will result in the company managing or owning 154 buildings with 8.4 million square feet in 20 states, providing more cash flow diversification within its health care real estate portfolio, the agency said.
The Lillibridge transaction will enhance cash flow diversification, increasing the net operating income to 8% from 5%, Fitch said.
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